banking & finance
With planned changes to EU regulations governing the audit market, contractual clauses limiting the selection of audit firms will have to be removed from credit agreements.
Until now, it has been distinctly easier for banks in Poland to secure and later enforce their receivables than for other creditors. Will a new amendment to the Banking Law change this?
Parliamentarians seek to strip banks of the opportunity to use bank writs of execution while awarding a comparable privilege to credit unions.
Although the bank guarantee is a commonly used form for securing claims, it is one of the most controversial institutions in Polish law. In a dispute, it is essential to analyse thoroughly the documents establishing the bank guarantee.
Residential escrow accounts have been in use in Poland for over a year, but banks so far do not offer much choice to real estate developers. Access to such accounts may also be limited for smaller developers.